Stavely Minerals has expanded shallow gold mineralisation at its Fairview North prospect to over 300 metres, revealing high-grade gold intervals and setting the stage for an imminent Phase 3 drilling campaign.
- Phase 2 RC drilling extends gold strike length beyond 300m
- Significant broad intercepts with high-grade gold up to 18.60g/t
- Gold mineralisation remains open along strike and down-dip
- Phase 3 drilling planned to test extensions at Fairview North, South, and S41 target
- S41 breccia-hosted target identified as a large hydrothermal system with early exploration potential
Expanding the Gold Footprint at Fairview North
Stavely Minerals Limited (ASX – SVY) has announced promising results from its Phase 2 reverse circulation (RC) drilling program at the Fairview North gold prospect, part of its wholly owned Stavely Copper-Gold Project in western Victoria. The recent drilling campaign successfully extended the known shallow gold mineralisation strike length to more than 300 metres, a significant increase that underscores the prospect’s growing potential.
The drilling returned broad intervals of gold mineralisation, including standout intercepts such as 14 metres at 2.14 grams per tonne (g/t) gold and 19 metres at 1.35 g/t gold. Notably, within these broader zones, higher-grade intervals were encountered, with assays revealing 1 metre at 18.60 g/t gold and other intervals exceeding 12 g/t. These results highlight both the scale and quality of the mineralisation at Fairview North.
Open-Ended Potential and Strategic Follow-Up
The gold mineralisation remains open along strike to the north and south, as well as down-dip, suggesting that the current footprint could expand further with additional drilling. Stavely’s Managing Director, Chris Cairns, emphasized the significance of these results, noting that the company’s renewed focus on gold exploration within the Stavely Project is yielding encouraging outcomes.
Building on this momentum, Stavely plans to commence a Phase 3 RC drilling program before the end of October. This next phase will not only target extensions at Fairview North but also test the Fairview South prospect and the S41 breccia-hosted gold target. The S41 target is particularly intriguing as it represents a large hydrothermal system with substantial early-stage exploration upside, located in an area currently not covered by surface crops.
Context Within the Broader Stavely Project
The Stavely Copper-Gold Project has been a focal point for exploration activity, with Stavely Minerals leveraging modern drilling techniques and geochemical analysis to unlock its potential. The recent Phase 2 drilling results complement earlier soil auger sampling and historical drilling data, collectively painting a picture of a robust gold system with multiple targets.
While the Fairview South step-out drill hole results were less compelling than initial holes, the geochemical soil data and rock chip samples continue to support the presence of gold mineralisation extending over a 400-metre strike length. This reinforces the rationale for the upcoming Phase 3 drilling campaign, which aims to fill in gaps and test new targets.
Looking Ahead
Stavely Minerals’ methodical approach to exploration, combining broad-scale drilling with targeted follow-ups, positions the company well to delineate a significant gold resource in western Victoria. The upcoming Phase 3 drilling program will be closely watched by investors and analysts eager to see whether the promising Phase 2 results can be expanded and converted into a viable resource.
Bottom Line?
With gold mineralisation open and expanding, Stavely’s next drilling phase could be a pivotal moment for the project’s valuation and future development.
Questions in the middle?
- How extensive and continuous is the gold mineralisation beyond the current 300m strike length?
- What are the economic implications of the high-grade intervals for potential resource development?
- How will exploration at the early-stage S41 breccia-hosted target influence the overall project strategy?